If all printers were determined not to print anything till they were sure it would offend nobody, there would be very little printed. -- Benjamin Franklin

Monday, November 8, 2010

Macroecono-Moose

Apparently Sarah Palin is just now discovering that the United States has a "central banker", and that central banker (which is apparently called "The Federal Reserve") is a non-partisan entity designed to control monetary policy through "interest rates" and other means in order to affect inflation as a method of controlling the economy's throttle.

We shouldn’t be playing around with inflation. It’s not for nothing Reagan called it “as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man.” The Fed’s pump priming addiction has got our small businesses running scared, and our allies worried. The German finance minister called the Fed’s proposals “clueless.” When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it’s time for Chairman Bernanke to cease and desist. We don’t want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It’s the only way we can get our economy back on the right track.

That loud murmur you're hearing is a thousand economists all going "Ho boy" at the exact same time. Look, that's like saying, literally, that the Fed shouldn't do anything because the Weimar Republic existed at some point in the past. You can't say "banks won't lend" and then say "But they have no incentive to because of government interference" when the cost of lending is dirt cheap.

Finally, the difference between Sarah Palin's opinions on Helicopter Ben and mine is, I freely admit it's just my opinion and that I'm a blogger. Sarah Palin on the other hand is most likely running for President. Somebody doing that should have policy positions better than "The Fed is the government and government is bad!" while running for government and having been elected to government.

Just saying.

Also, there is the little matter of Palin having no friggin' clue what the hell she's talking about on this subject. if she really thought the issue was important, she'd stop treating it as a campaign talking point.

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With Republicans controlling the House and Senate and the Trump Regime now in charge of the Executive, there's still a crumbling global economy imperiling the world, rising nationalism and deadly racism across Europe and Asia, a seemingly endless war against terror, a federal government nobody trusts or believes in, global climate change putting us on the brink of destruction and a Village media that barely does its job on even the best day.

Needless to say there's a lot of Stupid out there when we need solutions. Dangerous levels of Stupid.

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